NEW YORK, NEW YORK--(Marketwired - May 27, 2016) - This news release is issued by Ivanhoe Industries, LLC ("Ivanhoe Industries"), pursuant to the early warning requirements of Canada's Multilateral Instrument 62-104 and National Instrument 62-103 with respect to common shares and warrants of Kincora Copper Limited ("KCC").

Two affiliates of Ivanhoe Industries have entered into a share exchange agreement dated May 24, 2016 by which they, HPX Mongolia (Singapore) Pte Ltd. ("HPX") and GCR Holdings Limited (Singapore) ("GCR"), have agreed to sell certain assets in Mongolia to subsidiaries of KCC by way of merger in exchange for (A) in the case of HPX, 32,750,000 common shares of KCC and 16,375,000 common share purchase warrants ("Warrants"), and (B) in the case of GCR, 26,200,000 common shares of KCC and 13,100,000 Warrants. Each Warrant is exercisable at a price per common share equal to 1.8 times the per share price in the next minimum $500,000 private placement of common shares of KCC, and will be exercisable for 24 months from the closing of the purchase and sale of the Mongolian assets. The closing of the purchase and sale is subject to the approval of the TSX Venture Exchange and certain Mongolian regulatory approvals.

Upon issuance of the common shares, Ivanhoe Industries, through HPX and GCR, will have beneficial ownership of 15.80% of KCC's then issued and outstanding common shares. Assuming the exercise in full of the Warrants, Ivanhoe Industries, through HPX and GCR, will be deemed to beneficially own 21.97% of KCC's then issued and outstanding common shares on a partially diluted basis.

Depending on economic or market conditions, or matters relating to KCC, HPX, GCR or Ivanhoe Industries, HPX, GCR or Ivanhoe Industries may choose to either acquire additional securities of KCC or dispose of securities of KCC, including dispositions to the shareholders of HPX and GCR in accordance with applicable law.

For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the transactions hereunder please go to Kincora Copper Limited's profile on the SEDAR website www.sedar.com, or contact Penny Schattenkirk at (604) 689-8765. Ivanhoe Industries has an office c/o 654-999 Canada Place, Vancouver, British Columbia, Canada V6C 3E1.